Minister Troy highlights opportunities to strengthen Ireland’s economic relationship with largest trade and investment partner in the US, California
Minister for Trade Promotion, Digital and Company Regulation Robert Troy T.D. together with Lieutenant Governor for California, Ms. Eleni Kounalakis, jointly launched American Chambers of Commerce (Amcham) Stateside guide focused on Irish companies seeking to scale their operations in California. The launch was marked by a virtual roundtable on trade and investment in association with the Consulate of Ireland in San Francisco, Enterprise Ireland, and California Governor’s Office of Business and Economic Development (GO-Biz).
Over 100 businesses from across Ireland and California attended the online event which gave an opportunity to discuss deepening trade ties between Ireland and California. Topics discussed included deepening cooperation between California and Ireland and how the role of foreign investment more broadly can contribute to the COVID-19 economic recovery, and how international trade can be used as a tool for mutual inclusive and sustainable growth.
Speaking after this afternoon’s launch, Minister for Trade Promotion, Digital and Company Regulation, Robert Troy T.D. said: “With the inauguration of President-Elect Biden due to take place on 20 January next and the recent publication of the paper by the European Commission on the future EU-US agenda, this was an opportune time to make these transatlantic connections with our largest trade and investment partner in the US, California. We strongly support enhanced transatlantic cooperation on issues of mutual interest including climate, the digital agenda, research, trade, investment and in combatting unfair commercial practices by third countries. As Minister for Trade Promotion, this was an ideal opportunity to reinforce the strong economic relationship between Ireland and California.”
The Minister added: “The ties between Ireland and California already run deep, not least in respect to trade. Our Agencies are deeply embedded in the whole business and investment environment in California. Enterprise Ireland’s investment in supporting Irish companies to access market opportunities across California has significantly increased over recent years. There are now more than 300 Irish companies doing business in California, and, on average, an Irish company establishes a presence in California every 3-4 weeks. In fact, indigenous Irish headquartered companies provide approximately 10,000 jobs in California across 203 locations in the State, and, conversely, California headquartered companies provide approximately 40,000 jobs in Ireland. Today’s event highlighted the significant economic relationship that Ireland already has with California and also the enormous potential to develop this relationship further across trade, investment and research.”
“Lieutenant Governor Kounalakis and I agreed to maintain our contacts on this important agenda.”